Centaur LLC, owner of Hoosier Park in Anderson, Illinois, announced this morning that it has missed a loan payment and is thus in default with its lenders
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According to an article by the Indianapolis Business News, the default was announced via a press release.
Centaur has voiced concern over the viability of the racetrack over the past few months. The company borrowed $400 million in 2007 in order to pay the $250 million licensing fee. The other $150 million went toward facility upgrades.
Centaur stated that the default will not have an immediate impact on the racetrack's operations.
Centaur also announced it also has filed a voluntary Chapter 11 bankruptcy petition in Pennsylvania for two subsidiaries that hope to develop a racino (Valley View Downs).
Click here to the read the Indianapolis Business News article in its entirety.
(With files from Indianapolis Business News)